The data released by the Luxembourg Central Bank (BCL) indicated a slight increase in consumer confidence among Luxembourg households in December 2023, compared to the previous month. This rise was reflected across all four components of the confidence index, which encompasses the expected general economic situation in Luxembourg, households’ perception of their financial situation, their anticipated financial future and intentions for major purchases such as electronics or furniture.

The index, designed to measure the balance between positive and negative survey responses, showed improvements in each area. However, despite this overall uptick, all components remained predominantly negative in the December survey. There was a particular hesitancy among households regarding planned expenditures on major items, although sentiment had improved from the experienced in November 2023.

Overall, Luxembourg’s consumer confidence indicator experienced a modest two-point recovery in December, as by the BCL on Monday 8 January 2024, indicating a cautiously improving economic outlook among consumers.